What documents are typically required?

Provide formation documents, a W-9 or tax ID proof, a voided check or bank letter for settlement, ID for authorized signers, and any industry licenses. Missing items are the most common cause of underwriting delays.

Can the form be signed electronically?

Yes. Electronic signatures are valid under the ESIGN Act (15 U.S.C. ch. 96) and UETA in most states when intent, consent, attribution, and retention are documented.

Who must sign the application?

An authorized officer or person with legal authority to bind the entity should sign. Confirm signer authority in formation documents to avoid downstream disputes.

Is notarization required?

Not usually for standard POS applications, but some processors or banks may request notarized signatures for high-risk accounts or when verifying trustee or fiduciary accounts; check bank requirements.

How should I store signed applications?

Store signed PDFs with an unalterable audit trail, encrypted at rest. Retain records per tax, contract, and industry rules noted in the retention timeline section.

Can I revoke or update a submitted application?

Contact the processor immediately. Revisions typically require a new signed application or an amendment. Maintain a copy of the revocation or amendment for audit purposes.

Electronic Signature
Templates
Miscellaneous
Point of Sale Application Form

Point of Sale Application Form

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

POINT OF SALE APPLICATION & SERVICE AGREEMENT

WHEREAS

WHEREAS, Merchant Name: operates a business that seeks to accept electronic payment card transactions and related services; and

WHEREAS, Processor Name: provides point of sale equipment, transaction processing, settlement services, and related support pursuant to the terms set forth herein; and

NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement and other good and valuable consideration, the parties agree as follows.

MERCHANT INFORMATION (APPLICANT)

Legal Business Name DBA (Doing Business As) Business Address

Contact Name

Contact Phone

Contact Email

Federal Tax ID / EIN

Business Type

Sole Proprietor LLC Corporation Partnership Other

PROCESSING PROFILE

Estimated Monthly Card Volume: Average Ticket Size: Number of Terminals:

Terminal / Equipment Requested

Security & Compliance Merchant represents that it is PCI compliant at the appropriate level for its transaction volume Merchant requires EMV chip card acceptance Merchant permits verification of business ownership and may provide government-issued identification upon request

SCOPE OF WORK

Processor will provide the following services to Merchant as set forth in this Application and Agreement. The scope below describes services, equipment deployment, training obligations, and support responsibilities.

PAYMENT TERMS

Merchant shall pay fees for processing services, equipment, and related charges as follows.

Processing Fee Structure Monthly Service / Equipment Fee Settlement / Funding Schedule

Late Payment: Any amounts not paid when due shall accrue interest at the lesser of 1.5% per month (18% per annum) or the maximum rate permitted by law. Merchant shall be responsible for all collection costs, including reasonable attorney fees.

TERM AND TERMINATION

This Agreement shall commence on the Start Date below and shall continue for the Initial Term and thereafter shall renew as provided.

Start Date

Initial Term (months)

Termination for Convenience: Either party may terminate this Agreement after the Initial Term by providing Notice Period (days) below. Termination for Cause: Either party may terminate immediately upon material breach that remains uncured after ten (10) days' written notice.

Notice Period (days)

CONFIDENTIALITY

For purposes of this Agreement, "Confidential Information" means non-public business, technical and financial information disclosed by either party. Each party shall (a) hold Confidential Information in confidence using at least the same degree of care it uses to protect its own confidential information; (b) not use Confidential Information except to perform obligations under this Agreement; and (c) not disclose Confidential Information to third parties except to employees, affiliates or service providers who have a need to know and are bound by comparable confidentiality obligations. Confidential Information does not include information that is or becomes publicly known through no breach by the receiving party, or that is independently developed without reference to the disclosing party's Confidential Information. The obligations of confidentiality shall survive termination for a period of three (3) years.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to conflict of law principles. Venue for any action arising out of this Agreement shall be in the state or federal courts located within that state.

ENTIRE AGREEMENT

This Agreement, together with the Application, fee schedules, hardware addenda, and any written schedules executed by the parties, constitutes the entire agreement between Merchant and Processor with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, representations, and understandings, whether written or oral. Any modification must be in writing and signed by authorized representatives of both parties.

CERTIFICATION & AUTHORIZATION

The undersigned authorized representative of Merchant certifies that all information provided in this Application is accurate and complete. Merchant authorizes Processor to verify any information provided, to obtain consumer or business credit reports where permitted, and to contact banks and references. Merchant further authorizes Processor to initiate debit and credit entries to Merchant's bank account as required for settlement and permitted fees.

Bank Name for Settlement

Account Number

Routing Number

Additional Notes / Special Instructions

Merchant Printed Name:

By:

Date:

Processor Printed Name:

By:

Date:

What the Point of Sale Application Form Is and When It’s Used

A Point of Sale Application Form is the document merchants complete to request payment processing services, hardware or software for card-present and card-not-present transactions. It collects business identifiers, owner information, banking details for settlement, processing volume estimates, and compliance confirmations such as PCI scope and merchant category codes. Processors use the form to underwrite risk, verify identity, and set rates and holdback terms. Accurate completion speeds account setup and reduces requests for supplemental documentation during underwriting and activation.

Why completing the Point of Sale Application Form correctly matters

A fully completed form reduces underwriting delays, prevents misrouting of settlement funds, and limits the chance of declines or holds during onboarding. It supplies the processor with the facts needed to classify risk, apply fees, and configure transaction settings.

Who fills and who reviews a POS application

Clear role separation and accurate signer authority prevent onboarding delays and downstream settlement exceptions.

Business owners and managers complete legal, banking, and processing-volume fields before submission.
Finance or treasury staff supply settlement bank routing and account numbers for deposit setup.
Processor underwriting and risk teams review business models, MCC, and compliance disclosures.

Core sections to include in a professional POS application

A complete form groups merchant identity, business details, bank settlement, processing profile, compliance attestations, and signature blocks so underwriters can act without follow-up.

Merchant Identity

Legal business name, DBA, EIN or SSN for sole proprietors, and business formation type so the processor can verify tax identity and risk profile.

Business Location

Principal address, mailing address, and contact phone/email for regulatory notices, correspondence, and address-based underwriting checks.

Bank Settlement

Routing and account numbers for daily/weekly settlement, plus a voided check or bank letter to validate account ownership and speed funding setup.

Processing Profile

Average ticket, expected monthly volume, transaction mix (card present vs card not present), and sales channels to determine pricing and fraud controls.

Compliance Declarations

PCI-DSS scope statement, chargeback history, merchant category code (MCC), and any restricted product disclosures required for underwriting.

Authorization & Signature

Authorized signer name, title, signature, and date. Signer acceptance of fees, reserves, and terms is required to activate services.

Essential data fields every form must capture

Business Legal Name: Exact entity name

Tax Identifier: EIN or SSN

Settlement Account: Routing and account number

Contact Information: Phone and business email

Processing Profile: Avg ticket and monthly volume

Authorized Signer: Name, title, signature date

Step-by-step: filling and submitting your POS application

Follow these steps to minimize underwriting follow-up and accelerate account activation.

01

Gather documents: Collect formation, ID, W-9, and bank verification.
02

Complete form: Enter all fields using exact legal names and numeric formats.
03

Attach proofs: Attach voided check, W-9, and any licenses.
04

Sign and submit: Authorized signer executes electronic signature and sends application.

How to configure an online completion workflow for this form

Configure fields, signer roles, and authentication so each party receives only relevant fields and the process captures evidence of consent.

Field	Configuration
Merchant Info	Required text fields, validation for EIN/SSN
Bank Details	Masked field with manual upload for voided check
Processing Profile	Numeric fields with min/max validation
Signature	Signer role assigned; capture timestamp and audit trail

Where your completed POS application goes after submission

A standard routing pattern sends the form to underwriting, then to operations for settlement setup, with copies retained for compliance and reconciliation.

Underwriting: Risk review and documentation checks.
Operations: Settlement and terminal provisioning.
Finance: Deposits and fee schedules configured.
Recordkeeping: Signed copy stored for audit retention.

Digital signing and technical delivery considerations

Ensure the solution can produce tamper-evident signed PDFs, export to your document repository, and support role-based access for internal reviewers.

Authentication: Email, SMS, or advanced signer verification
Integrations: Salesforce, NetSuite, Google Workspace supported
Security: TLS in transit; AES-256 at rest

Typical timelines and processing expectations

Processing times vary by provider and underwriting complexity. Plan for parallel steps: identity checks, bank verification, and terminal or gateway provisioning.

Initial review:

Processor conducts documentation and risk screening.

Bank verification:

Settlement account validation may require micro-deposits or bank letter.

Underwriting clearance:

High-risk verticals require extended review and additional docs.

Hardware provisioning:

Terminal shipment and configuration once account is approved.

Final activation:

Settlement enabled after account verification and contract acceptance.

Common mistakes that delay POS onboarding

Entering a trade name instead of the legal entity name, causing bank or tax mismatches during verification.
Providing incorrect routing or account numbers that prevent settlement deposits and require resubmission.
Underestimating average ticket or monthly volume which can cause reserves or fee reclassification later.
Omitting declarations about restricted goods or chargeback history that trigger additional underwriting.

Risks and financial consequences of incomplete or incorrect information

Application denial: Processor may refuse onboarding

Delayed funding: Settlement holds until verification

Reserve requirements: Additional holdbacks may be imposed

Chargeback exposure: Poor disclosures increase liability

Backup withholding: 24% withholding for missing/incorrect TIN (IRC §3406)

Information return penalties: Penalties for incorrect filings (IRC §6721)

Real-world examples of digital application workflows

These brief customer examples illustrate how electronic workflows reduce friction during merchant onboarding.

Tim Martin, Founder — Martin Properties

We process applications online for complete compliance and built-in security.

Mobile and offline signing supported.
The team can execute forms remotely, accelerate approvals, and return signed documentation to stakeholders without manual handling or lost paperwork.

Kodi-Marie Evans, Director — Xerox

Flexibility to capture signatures in the right formats matters for integrations.

NetSuite integration example.
Using an electronic workflow lets operations get proper signatures, attach required bank validation, and feed data into ERP systems for faster settlement setup.

eSignature vendor comparison for completing POS applications

Comparison of common eSignature providers by starting price and key capabilities relevant to form collection and compliance. signNow is listed first per vendor ordering rules.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies by plan	Varies by plan	Varies by plan	Varies by plan
Bulk Send	Yes (Premium tier)	Yes	Yes	Yes	Varies
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No cap	100 envelopes/user/year	Varies by plan	Varies by plan	Varies by plan

Frequently asked questions about the Point of Sale Application Form

Answers to common questions about required documents, electronic signatures, signer authority, and record retention for POS applications.

Need help? Contact support

What documents are typically required?
Provide formation documents, a W-9 or tax ID proof, a voided check or bank letter for settlement, ID for authorized signers, and any industry licenses. Missing items are the most common cause of underwriting delays.
Can the form be signed electronically?
Yes. Electronic signatures are valid under the ESIGN Act (15 U.S.C. ch. 96) and UETA in most states when intent, consent, attribution, and retention are documented.
Who must sign the application?
An authorized officer or person with legal authority to bind the entity should sign. Confirm signer authority in formation documents to avoid downstream disputes.
Is notarization required?
Not usually for standard POS applications, but some processors or banks may request notarized signatures for high-risk accounts or when verifying trustee or fiduciary accounts; check bank requirements.
How should I store signed applications?
Store signed PDFs with an unalterable audit trail, encrypted at rest. Retain records per tax, contract, and industry rules noted in the retention timeline section.
Can I revoke or update a submitted application?
Contact the processor immediately. Revisions typically require a new signed application or an amendment. Maintain a copy of the revocation or amendment for audit purposes.

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